UK economic growth forecast to slow next year as unemployment rises; £5.3bn infrastructure merger collapses – business live

<p>Rolling coverage of the latest economic and financial news</p><p><strong>The oil price has jumped this morning, after the Opec+ cartel agreed to leave output unchanged and Ukraine attacked two Russian ‘shadow fleet’ tankers.</strong></p><p>Brent crude is up around 2% this morning, hitting $63.82 per barrel for the first time since 20 November.</p><p>US crude is up more than 2% this morning as OPEC reiterated yesterday that they want to stabilise oil prices into next year, implying tighter control of output to address the supply glut that has weighed on prices – except during brief periods of geopolitical tension.</p><p>And even those tensions haven’t been enough lately to bring buyers back, which shows how much oil is currently sloshing around the planet. As discussed in previous reports, OPEC alone can’t reverse the broader negative price dynamic, but it can help put a floor under the latest selloff.</p><p>“Manufacturers reduced their workforce and purchasing volume, and became more cautious in inventory management.”</p> <a href="https://www.theguardian.com/business/live/2025/dec/01/uk-economic-growth-2026-unemployment-rises-budget-sterling-bonds-stock-market-business-live">Continue reading...</a>